Tongguang Cable: Subsidiary Suspended from Bidding for Two Years by State Grid Tianjin Over Provision of False Information

36Kr learned from a Tongguang Cable announcement that its wholly owned subsidiary, Tongguang Optical Cable, has been barred from bidding across all product categories by State Grid Tianjin for two years due to providing false information. The suspension runs from June 2, 2026 to June 1, 2028. The company estimates the suspension at State Grid Tianjin will reduce its revenue by about 9 million yuan combined over the next two years, or about 4.5 million yuan per year, equal to roughly 0.16% of its 2025 revenue. If State Grid Corporation of China imposes a suspension, the company estimates a combined revenue decline of about 430 million yuan over the next two years, or 215 million yuan per year, roughly 7.48% of its 2025 revenue. The company said existing won orders that have not yet been executed will not be affected and that it will actively optimize its business structure to address the impact.